I've driven up and decided it was too risky. It's particularly difficult when there are lots of people there, can be hard to get around people, other 4wds, rocks and waves. Most stuck cars seem to try it at night.
The sand changes, sometimes the rocks are well covered, other times they are sticking out and the tide is up, but normally in good conditions, waves aren't smashing in, you can get through 2 hours either side of low tide, even with eroded sand. Other times the sand is good enough to go through whenever.
The main reason people try to get through is this is the way back from the point where the surfing and swimming is best (that's where my pic is up the top of this page), back to rainbow beach town. You can go around to freshwater track, but it takes a lot longer. I don't tend to go to rainbow beach, but if you are camping and need supplies its one option.
Here's what was happening last year when I went up for a look:
